The internal memo about the demise of Jane Magazine is making the rounds, and we've got a copy. The summary: It was a difficult decision to shut down the magazine, and Conde Nast President/CEO Charles H. Townsend says that his company has come to believe "that the magazine and the website will not fulfill our long-term business expectations." Blah, blah, blah. Translation: "We wasted too much fucking money on Portfolio." Townsend's memo, and a press release, after the jump.

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After considerable thought, we have decided to cease publication of Jane, effective with the August 2007 issue. The website, janemag.com, will also be shut down. This difficult business decision was made despite the efforts and hard work of Brandon Holley, Carlos LaMadrid, and Jane's editorial and advertising staffs. The following press announcement was just released. Tom Wallace and I, and all of us at CNP, are grateful to everyone who contributed to Jane over the past few years.